13123 Indiana St · Detroit, MI 48238

$80,000

3 bd · 2.0 ba · 2,056 sqft · SingleFamily public records · 29 Days on market

Built 1940 6,970 sqft lot Est $127k · 37% under

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Why this score? — see what drove the B+ grade

The composite is a weighted blend of 9 inputs, each scored 0–100. Each bar is that input's sub-score; the figure is the points it added to the 100-point composite (weight × sub-score).

• Cash flow +30.0/30.0
• ARV discount +15.0/15.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Rent growth +4.0/5.0
• Livability +3.7/5.0
• Condition / age +2.5/5.0
• Schools +1.3/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Spacious brick house, needs Tender Loving Care and updating. Being sold in "As Is" condition.

Key facts

• 6,970 sq ft lot
• 3 garage spots
• Built 1940

Property features AI

Finance

• Other: Pets allowed: cats and dogs

Exterior

• Parking: Detached garage; 3 garage spaces; Driveway; Garage faces front
• Utilities: Public water; Public sewer; Sewer and water available
• Home design: Single-family residence; One-and-a-half story; Ground-level entry with steps; Brick exterior
• Construction: Built with brick construction; Block foundation; Asphalt roof
• Exterior features: Outdoor lighting; Paved road access; Yard on a 0.16-acre lot (approx. 68 x 100)

Interior

• Bathrooms: 2 full bathrooms
• Heating & cooling: Forced air heating (natural gas); No central air
• Interior features: Gas water heater; Living room fireplace; Unfinished basement; 6 total rooms

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $80k.

Deal economics

• At list price, monthly cash flow is $446 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $80k).
• Recommended offer: $79k (1.5% below list) — sets the bar for market timing.
• Cap rate 13.0% vs local median 10.0% in Detroit — top-decile yield for the area; either an underpriced asset or a hidden risk that comps aren't pricing in. Stress-test before assuming the spread holds.

Location & tenants

• Location reads 73/100 on livability (#218 in MI) — a middle-class / working-renter tenant base. Strengths: amenities A+, commute A+, cost of living A+; Watch: schools F, crime F, employment F.
• Detroit Public Schools Community District (urban): math 10% / reading 24% proficiency, ranked #499 of 540 in MI (top 92%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 90% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: Rents rising fast (+6.1%/yr); 350 active listings in the ZIP; 11 comparable units currently listed for rent nearby; rentals at typical pace (median 26d on market — plan ~3-4 weeks tenant-placement turnaround); 45% of comp listings sitting > 30 days — soft ceiling on asking rent; lower-income renter base — watch delinquency; 2,639 units permitted in Wayne County in 2024 (1,216 in 5+ unit buildings).
• At $1,264/mo this rent would consume 46% of the median local household income ($33k/yr) (locally 2172% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $553 of loan paydown is wiped out by about $2k of value loss. Plan a longer hold.
• Wayne County population projected at -17% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (-3.0% appreciation + 6.1% rent growth), your $22k cash investment doubles in ~5 years — after that, you're playing with house money.

Negotiation context

• It's been on market 29 days — a 2% lower offer ($79k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 18y ago; this cycle's ask has dropped $10k (11%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $45k; list at $80k implies a 78% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1940 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $78,800 (1.5% below list)

Questions for the listing agent

1. Built in 1940 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. Schools are F-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
4. Crime grade is F in this area — have there been break-ins, vandalism, or insurance claims at this property in the last 3 years? What carrier currently insures it and at what premium?
5. What's the average days-on-market for RENTAL listings here right now (not sales)? A rising rental-DOM trend means longer vacancies and softer asking-rent achievability than the comps imply.
6. What's the recent tenant-quality profile in this submarket — average credit score on applications, eviction rate, late-payment / NSF rate, and stable-employment percentage? A property-management company in the area should have these aggregated.
7. How much new for-sale + rental construction is in the pipeline within 1–3 miles? Heavy new supply typically softens prices + rents 12–24 months out; constrained supply supports both.

Investment metrics

• 1% rule: 1.58% ✓
• Cap rate: 12.98%
• Cash-on-cash: 23.87%
• DSCR: 2.06
• GRM: 5.3

CMA / ARV

• ARV (on-the-fly): $127,472
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
13166 Washburn St	0.14mi	3/1.5	1,839 (-11%)	8mo	$105,300	$57	68
12795 Ilene St	0.22mi	3/1.5	1,753 (-15%)	7mo	$148,900	$85	58
13120 Griggs St	0.24mi	3/2.0	1,900 (-8%)	23mo	$132,500	$70	57
3151 Ewald Cir	0.63mi	3/1.5	2,185 (+6%)	2mo	$127,000	$58	56
14011 Ohio St	0.43mi	4/2.0 (+1)	1,856 (-10%)	3mo	$115,000	$62	56
3276 Oakman Blvd	0.66mi	4/2.5 (+1)	2,061 (+0%)	11mo	$134,700	$65	52
13606 Northlawn St	0.35mi	4/2.0 (+1)	1,790 (-13%)	8mo	$104,999	$59	51
11891 Wisconsin St	0.50mi	4/1.5 (+1)	1,878 (-9%)	15mo	$28,000	$15	43
12770 Monte Vista St	0.46mi	3/2.0	1,764 (-14%)	18mo	$47,000	$27	40
3044 Oakman Blvd	0.67mi	3/2.0	1,802 (-12%)	18mo	$145,595	$81	33
3383 Ewald Cir	0.66mi	3/2.5	1,846 (-10%)	23mo	$187,000	$101	31
12645 Monte Vista St	0.52mi	4/1.0 (+1)	1,750 (-15%)	24mo	$70,000	$40	22

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

-3.0% appreciation · 6.14% rent growth · sell at horizon

5-year hold

• IRR: 20.6%
• Equity multiple: 1.87×
• Total profit: $19,549
• Equity at exit: $11,928

10-year hold

• IRR: 30.8%
• Equity multiple: 4.20×
• Total profit: $71,665
• Equity at exit: $6,917

Cash invested: $22,400 (down + closing). Projections, not guarantees.

Landlord ↔ Tenant lean methodology

• Overall (STATE): 62 Landlord-Friendly
• State Michigan: 62 Landlord-Friendly · EVEN
• County: — inherits STATE
• City: — inherits STATE

7-day pay-or-quit; mixed climate; Detroit/AA have some protections.

Methodology + full state rankings →

ZIP-level market 48238

• Home prices YoY: -14.4%
• Rents YoY: 6.1%
• Active inventory: 350
• Price-to-rent: 5.3×

Monthly cashflow live

• Estimated rent: $1,264 high
• Mortgage (P&I): −$420
• Tax est. 1.5%: −$100 /mo · $1,200/yr
• Insurance: −$33
• HOA: −$0
• Vacancy / Maint / Mgmt: −$265
• Net cashflow: $446

Break-even live

Break-even rent $700

Max offer price $80,000

Occupancy floor 60%

Sensitivity live

Price	-10% $501	-5% $473	+0% $446	+5% $418	+10% $390
Rent	-10% $346	-5% $396	+0% $446	+5% $495	+10% $545
Rate	-1.0pp $486	-0.5pp $466	base $446	+0.5pp $425	+1.0pp $404

UW: 25.0% down · 7.5% · 30yr · 1.5% tax · 5.0% vac · 8.0% maint · 8.0% mgmt

Financing live

Cash to close

• Down payment: $20,000
• Closing costs: $2,400
• Reserves months: —
• Total cash needed: —

Rent comps 11 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
12650 Griggs St Detroit, MI	3.0	2.0	1628	$1,375	$0.84	26d	1	0.30mi
13910 Kentucky St Detroit, MI	2.0	1.0	1680	$1,000	$0.60	45d	1	0.33mi
12303 Cloverlawn St Detroit, MI	3.0	1.5	1454	$1,400	$0.96	45d	1	0.42mi
14242 Ohio St Detroit, MI	4.0	1.0	1400	$1,000	$0.71	45d	1	0.59mi
Ohio St Unit 4 Detroit, MI	4.0	1.5	1400	$750	$0.54	45d	1	0.78mi
12123 Santa Rosa Dr Detroit, MI	2.0	1.0	1680	$1,000	$0.60	26d	1	0.89mi
4341 Glendale St Detroit, MI	4.0	2.5	1832	$1,680	$0.92	6d	1	1.09mi
12546 Broadstreet Ave Detroit, MI	3.0	1.5	1899	$1,250	$0.66	46d	1	1.11mi
4046 Tyler St Detroit, MI	2.0	1.0	2378	$1,050	$0.44	14d	1	1.22mi
3747 Tyler St Detroit, MI	3.0	1.0	2600	$1,700	$0.65	25d	1	1.37mi
15457 Cloverlawn St Detroit, MI	3.0	2.0	1500	$1,275	$0.85	26d	1	1.49mi

Listing history 20 events

1. 2026-06-21
   days on market $80,000 Active 29 DOM
2. 2026-06-18
   days on market $80,000 Active 26 DOM
3. 2026-06-17
   pricedays on market $80,000 Active 25 DOM
4. 2026-06-15
   days on market $90,000 Active 23 DOM
5. 2026-06-13
   days on market $90,000 Active 21 DOM
6. 2026-06-13
   days on market $90,000 Active 20 DOM
7. 2026-06-09
   days on market $90,000 Active 17 DOM
8. 2026-06-08
   days on market $90,000 Active 16 DOM
9. 2026-06-07
   days on market $90,000 Active 15 DOM
10. 2026-06-04
    days on market $90,000 Active 12 DOM
11. 2026-06-03
    days on market $90,000 Active 11 DOM
12. 2026-06-02
    days on market $90,000 Active 10 DOM
13. 2026-06-01
    days on market $90,000 Active 9 DOM
14. 2026-05-31
    days on market $90,000 Active 8 DOM
15. 2026-05-22
    listed $90,000 Active

    Show marketing remark (103 chars)

    Spacious brick house, needs Tender Loving Care and updating. Being sold in "As Is" condition.

16. 2026-05-22
    listed $90,000 Active 103-char remark

    Show marketing remark (103 chars)

    Spacious brick house, needs Tender Loving Care and updating. Being sold in "As Is" condition.

17. 2009-03-09
    soldstatus $45,000
18. 2009-01-14
    soldstatus $12,200 212-char remark

    Show marketing remark (212 chars)

    BANK OWNED SELL AS IS. AN EXCELLENT INVESTMENT PROPERTY, GREAT HOME FOR FIRST TIME BUYERS. BUYER RESPONSIBLE TO ORDER AND PAY FOR CITY INSPECTION ACR & FINAL WATER BILL. ALSO PAY ERA $295.00 FEE AT CLOSING.

19. 2008-11-07
    listed $12,000 212-char remark

    Show marketing remark (212 chars)

    BANK OWNED SELL AS IS. AN EXCELLENT INVESTMENT PROPERTY, GREAT HOME FOR FIRST TIME BUYERS. BUYER RESPONSIBLE TO ORDER AND PAY FOR CITY INSPECTION ACR & FINAL WATER BILL. ALSO PAY ERA $295.00 FEE AT CLOSING.

20. 2000-07-31
    soldstatus $36,700

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 3/10 Moderate 7 d/yr ≥97°F today · 15 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 3/10 Moderate 2 unhealthy d/yr today · 5 by 30 yrs out

Taxation est. · year 1

• Rental income: $15,165
• − Mortgage interest: −$4,481
• − Property taxes: −$1,200
• − Insurance: −$400
• − Repairs & maintenance: −$1,213
• − Management: −$1,213
• − Depreciation: −$2,327
• Taxable income: $4,330
• Est. tax owed @ 24.0%: −$1,039
• After-tax cash flow: $4,307/yr

For passive investors: Depreciation is non-cash, so a rental often shows a tax loss while cash-flowing — sheltering income. Rental losses are passive: they offset passive income freely, and up to $25,000/yr can offset ordinary (W-2) income if you actively participate and your MAGI is under $100k (phasing out to $0 by $150k); unused losses carry forward. On sale, claimed depreciation is recaptured at up to 25%, and gains may owe capital-gains tax (a 1031 exchange can defer both). Figures are a year-1 estimate at your 24.0% rate — not tax advice; consult a CPA.

Schools (NCES district)

• District: Detroit Public Schools Community District
• NCES district ID: 2601103
• Math proficiency: 10% ▼ -2.00%
• Reading proficiency: 24% ▲ 6.00%
• Median HH income: $25,815
• Composite: 13.06/100
• National rank: #9564
• State rank: #499 of 540 in MI

Livability — Detroit

• Score: 73/100
• State rank: #218
• US rank: #5427

Category grades

Amenities A+ Commute A+ Cost of living A+ Crime F Employment F Housing A+ Health & safety B- User ratings F

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Detroit, MI
• County: Wayne County · 1,562,939 people
• City population: 572,865
• Metro: Detroit-Warren-Dearborn, MI
• Population (ZIP): 24,731
• Household income: $33,315
• Rent vs Own: 53.0% rent · 47.0% own
• Severe rent burden: 2172.0

Population outlook (Wayne County) Hauer SSP2

• Today (2025): 1,675,273 people
• By 2030: 1,620,300 · -3.3%
• By 2040: 1,502,341 · -10.3%
• By 2050: 1,384,039 · -17.4%
• By 2075: 1,124,592 · -32.9%
• By 2100: 881,193 · -47.4%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly Black (94%)
• Race & ethnicity: Black 94% Two or more races 3% White 1%
• Foreign-born: 1%

Political lean MEDSL · Wayne

• 2024 margin: Strong D (+29.0) · D 62.7% · R 33.7% · Other 3.6%
• 2008→2024 swing: -20.5pp toward R · 2008: 49.5pp · 2024: 29.0pp
• All cycles: 2024: D+29.0 2020: D+38.1 2016: D+37.3 2012: D+46.9 2008: D+49.5

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -31.96%
• Current HPI: 189.6227
• Rent YoY: ▲ 6.14%
• Metro: Detroit-Warren-Dearborn, MI
• State GDP YoY: ▲ 1.37%
• F500 in state: 28

Industry mix (Fortune 500 HQ in MI)

Industry	F500 HQs	Revenue
▸Automotive Parts	3	$48B
▸Automotive	2	$372B
▸Chemicals	1	$45B
▸Automotive Retail	1	$29B
▸Healthcare / Medical Devices	1	$23B
▸Automotive Technology	1	$20B

Price history

+145.2% since first listed

6 events — show timeline

• 2026-05-22 Listed $90,000 MiRealSource-MiMLS
• 2026-05-22 Listed $90,000 REALCOMP
• 2009-03-09 Sold (Public Records) $45,000 Public Records
• 2009-01-14 Sold (MLS) $12,200 REALCOMP
• 2008-11-07 Listed $12,000 REALCOMP
• 2000-07-31 Sold (Public Records) $36,700 Public Records

Property tax history

-14.4%/yr

Latest (2025): $130 · -95.0% YoY. Source: county tax records.